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Guideline Value

Corporate

Guideline Value for Bhuvaneshawari Nagar 1st Main Road

₹3850/sq.ft.

The guideline value for Bhuvaneshawari Nagar 1st Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bhuvaneshawari Nagar 1st Main Road

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Bhuvaneshawari Nagar 1st Main Road guideline value

The current guideline value of Bhuvaneshawari Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Bhuvaneshawari Nagar 1st Main Road has changed

Looking at the revisions over the years, the guideline value for Bhuvaneshawari Nagar 1st Main Road was Rs 3,500 per sq.ft in the 2012 revision, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

There are no figures available in the register for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Bhuvaneshawari Nagar 1st Main Road is below this median.

Stamp duty and registration fee for property in Bhuvaneshawari Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total cost of Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneshawari Nagar 1st Main Road?

Bhuvaneshawari Nagar 1st Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It determines the minimum value at which the property must be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property transaction occurs, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Bhuvaneshawari Nagar 1st Main Road?

The current guideline value of Bhuvaneshawari Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase over this period. The value remained the same from 2012 to 2023.

What is the land classification for Bhuvaneshawari Nagar 1st Main Road?

Bhuvaneshawari Nagar 1st Main Road is classified as Residential Class II Type - III, indicating its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 3,46,500.

Which office handles registrations for Bhuvaneshawari Nagar 1st Main Road?

The Velacheri Sub Registrar Office handles registrations for Bhuvaneshawari Nagar 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.